SAN FRANCISCO--(BUSINESS WIRE)--Oct. 4, 2002--Fremont Partners today announced the acquisition, in partnership with management, of Nellson Nutraceutical, Inc. ("Nellson" or the "Company").
Nellson Nutraceutical, headquartered in Irwindale, California, is a leading formulator and manufacturer of functional bars and powders designed to deliver customized nutrition to serve specific purposes such as diet/weight loss, energy/sports, bodybuilding, and wellness/medical. Nellson is a partner to many of the foremost marketers of these products.
"Nellson's market position and organic growth opportunities make this a very attractive investment for Fremont Partners. We believe the company is well-positioned to participate in the future successes of this rapidly growing industry," said Bill Lenihan, Principal of Fremont Partners.
"In addition, we are extremely excited to be aligning with such a talented and experienced group of individuals. Collectively, Nellson's senior management team has over 80 years of relevant food industry experience and offers a strong partnership opportunity," continued Lenihan.
As is typical of Fremont Partners-led investments, the current management team will participate in the on-going ownership and management of the Company.
"We were attracted to Fremont Partners because of their strong operating orientation, significant experience within the food industry and proven ability to build value in their portfolio companies. We are very pleased to have Fremont Partners on board," said Ben Muhlenkamp, CEO of Nellson Nutraceutical.
Fremont Partners and management acquired Nellson Nutraceutical from Artal Luxembourg S.A. The Invus Group, Ltd. served as the advisor to Artal Luxembourg S.A.
The Nellson acquisition marks the third investment made through Fremont Partners III, a $920 million private equity fund.
Fremont Partners, which manages more than $1.8 billion of equity capital, invests across a diverse range of industries, including food and consumer products, healthcare and medical devices, building products, business services, specialty packaging, specialty finance, and industrial manufacturing. Fremont Partners makes substantial equity investments in operating companies with enterprise values up to $1 billion and seeks to deploy a minimum of $75 million in each transaction. Founded in 1991, Fremont Partners has invested over $1.2 billion in 18 companies, representing a total transaction value of approximately $4 billion.
Additional information about Fremont Partners can be found by visiting http://www.fremontpartners.com.